UNCCD COP16: Making Voluntary Carbon Markets Work for Africa’s Sustainable Future

Voluntary Carbon Markets (VCMs) have emerged as a powerful tool for climate finance, offering Africa significant opportunities to attract green investments for both emissions reductions and ecosystem restoration. As land degradation continues to threaten biodiversity, livelihoods, and the climate across the continent, VCMs provide a mechanism to channel resources into conservation and restoration efforts. This side event will explore how VCMs can be leveraged to finance large-scale land restoration and conservation initiatives, while addressing the socio-political and economic challenges unique to Africa.

Carbon markets enable green investments by generating carbon credits through activities that conserve and restore ecosystems, such as reforestation, afforestation, and sustainable land management. These projects not only sequester carbon but also restore degraded landscapes, enhance biodiversity, and support local communities. However, tensions between market-driven approaches and the need for sustainable, equitable land use remain. Concerns around transparency, integrity, and benefit-sharing raise questions about how well VCMs align with Africa’s sustainable development priorities.

This event will examine critical issues of justice, equity, and governance in the implementation of VCMs. We will explore how Africa can maximise the benefits of VCMs for ecosystem restoration while ensuring fair benefit-sharing and community empowerment. While VCMs offer significant potential for channelling investments into land conservation, questions remain about whether these markets truly prioritise local development or benefit large polluters seeking to offset emissions. 

Themes:

1. Political Economy of Carbon Markets
2. Carbon Markets as a Mechanism for Climate Finance (the Architecture)
3. Challenges with Voluntary Carbon Markets
4. Indigenous Rights and Community Agency
5. Making Carbon Markets Work for Africa